Maxtor Corp. (MXO) cut its first-quarter outlook as the hard-disk-
drive maker said it experienced more challenges related to its
pending acquisition by Seagate Technology (STX).
Maxtor said it expects a loss of 39 cents to 40 cents a share, or
between $100 million and $104 million, on revenue ranging from $875
million to $885 million.
Analysts surveyed by Thomson First Call, on average, estimated
Maxtor's loss at 18 cents a share on $965 million in revenue.
The company also said it would cut 900 jobs at its Singapore
manufacturing facility.
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